Vancouver, British Columbia, Canada
August 11, 2021
Clean Seed Capital Group Ltd. (“Clean Seed” or the “Company”) (TSX-V: CSX) reports the following update:
- SMART Seeder MAX™ Model Year 2022 Approaching Fully Committed
Clean Seed is happy to announce retail sale order commitments for most of the Model Year 2022 production run and is expecting to finalize these concurrent with signing up dealers. These orders are primarily for our flagship SMART Seeder MAX-S™ (with singulation) and our SMART Seeder MAX-5™ (5 product volumetric). All orders are for dealers and customers in Western Canada.
In April 2021 Clean Seed launched a campaign to become a SMART Seeder MAX™ dealer or Agronomy Partner in key geographic areas in Western Canada, USA, and in key future export markets. Clean Seed plans to formally announce dealers and agronomy partners later this summer in conjunction with Fall 2021 demonstration plans.
As previously announced, Clean Seed will be attending upcoming farm shows in Canada and the United States to showcase the SMART Seeder MAX™ technology and products as follows:
- Ag SMART – Olds College, Olds Alberta – August 10-11, 2021
- Farm Progress Show – Decatur, Illinois – August 31 – September 2, 2021
- Big Iron Farm Show – Fargo, North Dakota – September 14-16, 2021
- Fall and Winter Crop Demonstrations
The SMART Seeder MAX™ demonstration units are targeting several thousand demonstration acres for fall and winter crop seeding. These customer and technology focused demonstrations will take place in August and September 2021. Please contact Butch Sinclair at bsinclair@cleanseedtechnologies.com if you have interest in seeing a SMART Seeder MAX™ in your area.
- Saskatoon Assembly Facility and Supply Chain Update
The Saskatoon Assembly facility has started to break ground with the steel for the buildings on site to be erected shortly. Clean Seed expects to have access to the completed facility by November 1st to begin the assembly of the Model Year 2022 SMART Seeder MAX™ order commitments. In the meantime, Clean Seed has entered into a temporary lease for a small facility in Saskatoon for production parts storage, employee training, and operations. As with all manufacturers there has been significant concern with shortages and delays in supply chain parts. We have not identified any critical production component shortages for our model year 2022 production at this time.
- Expected Model Year 2022 Machine Deliveries
Clean Seed expects to begin model year 2022 machine deliveries of the SMART Seeder MAX from our Saskatoon facility at the end of the calendar year. On-site training for setup, pre-delivery, customer operation, and dealer support will be scheduled in January-February 2022.
The Company has received proceeds of $1,370,000 from the exercise of 2,740,000 share purchase warrants.
The Company has granted an employee 300,000 stock options at a price of $0.50 per share until February 28, 2025 and has granted two consultants and aggregate of 252,000 stock options at exercise prices ranging from $0.50 to $0.55 per share until December 31, 2023.
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